Wednesday, July 23, 2014
Top Story
APM Terminals to sell Virginia container terminal
APM Terminals, the terminal operating arm of A.P. Moller-Maersk, announced it is selling APM Terminals Virginia in Portsmouth to infrastructure investor Alinda Capital Partners and a private British pension fund.
The deal is slotted to close in the third quarter of 2014, and staff at the facility will reportedly not be affected.
Alinda and Universities Superannuation Scheme Limited did not disclose the amount they will pay for the Virginia container terminal in their joint press release.
The terminal was commissioned in 2007 for $540 million and later leased to the Virginia Port Authority.
"Ownership of this terminal does not fit with our global strategy and ambition to operate and develop ports," said APM CFO Christian Moller Laursen. "We have chosen to sell our Portsmouth terminal because we are a non-operating lessor."
Chief executive Kim Feijfer said in 2013 that APM would invest in growing regions such as Russia and Africa to make up for a lack of growth in mature markets.
For more of the Reuters story: in.reuters.com
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